Market Bizzz

Workday shares dropped on Friday due to a lowered annual subscription revenue forecast amidst economic uncertainty and slower hiring impacting demand for payroll services.

Rushil Decor announced a stock split in the ratio 1:10 to enhance liquidity and make shares more affordable for retail investors. The process is expected to be completed in 2 to 3 months from the date of approval of the shareholders.

Hindalco Industries likely to report muted revenues in Q4FY24 despite higher profitability. Novelis expected to see improved earnings. Investors await management guidance on domestic aluminum demand and hedging position.

Nvidia’s shares surged over 9% on Thursday, adding $218 billion in market value, the second-largest single-day gain in history on Wall Street, fueled by a bumper revenue forecast reinforcing investor confidence in the AI-driven chip demand boom.

Nvidia’s profit soared, driven by AI dominance and CEO Jensen Huang’s vision of ‘AI factories’ creating artificial intelligence. The company reported a sevenfold increase in net income and a 10-for-1 stock split, with shares rising 6% in after-hours trading.

The House approval comes as the U.S. Securities and Exchange Commission (SEC) signals that it will likely approve applications for spot ether exchange-trade funds in a surprising boost to the industry.

BHP, the world’s biggest listed mining group, now has until May 29 to make a binding offer for Anglo American or it will be forced to walk away for at least six months, under the UK’s takeover rules.

Weeks before vote counting set for June 4, stock markets are closely tracking shadow-betting platforms that are flourishing nationwide, with wagers now suggesting the ruling Bharatiya Janata Party (BJP) will win a slimmer majority than expected.